Agenda - Economic Development Authority - 05/12/2022

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Economic Development Authority (EDA) 4. 1. Meeting Date: 05/12/2022 Submitted For: Sean Sullivan, Community Development By: Sean Sullivan, Community Development III Title, Consider Renewal of Anoka County Regional Economic Development Partnership (ACRED) Purpose/Background: The purpose of this case is to consider a continued financial partnership in ACRED. The EDA will receive an update by Samantha Markman,Anoka County Economic Development Director. Anoka County Regional Economic Development Partnership-Anoka County along with its 21 communities, Connexus Energy and Metro North Chamber of Commerce have identified the need for a regional economic development focus. A research study was completed by a Consultant,Ady Advantage, in December 2017 ("the Study") for a market research analysis and evaluation of business opportunities,targets, and strategies for economic development within Anoka County. After a year of research,Ady provided a 200+page report with many goals and action steps to help the region grow to its full economic potential. Samantha Markman, Economic Development Director has been charged to tackle these goals and help many of the municipalities with their economic development needs/strategies. Ms. Markman's last day with ACRED is May 13, 2022. Anoka County Administrator Rhonda Sivarajah plans to attend the meeting to discuss the commitment to the position into the future and to answer additional questions. The City of Ramsey has entered into a Memorandum of Understanding (MOU) setting up a framework for participating entities,to further the goals of the economic development collaboration by: (a) outlining general objectives, (b) defining mutual responsibilities, and (c) setting goals,timelines,communication, and other details necessary to achieve the desired outcomes. The cost of this partnership to the City is $1,576.00 which is an increase of$70 dollars compared to last year. Notification: N/A Observations/Alternatives: Samantha Markman,Anoka County Economic Development Director,will provide a brief presentation highlighting what ACRED worked on this past year and what is on the agenda moving forward. The City of Ramsey has worked closely with ACRED to market City owned properties on MNCAR, identify and submit site selection for regional RFP's,provide business leads, and participation with in-person and web based marketing activities highlighting the City of Ramsey and Anoka County. All 21 Anoka County cities have committed to this partnership in the past. Staff believes that the continued investment of$1,576 is worthwhile and does not recommending opting out of the Voluntary Cost Share Agreement. Funding Source: Originally,the cost for cities in Anoka County was $0.057 per person of population which amounted to $1,506.00. The cost for 2022 is now $1576.00. The City has historically used the EDA Budget for this expense. Recommendation: